LUCFEL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LUCFEL
Largest movements
- Receivables within one year +€32,041
up €32,041 (+152%), from €21,118 to €53,159
of which Other amounts receivable: +€21,151
- Tangible fixed assets -€3,333
down €3,333 (-41.4%), from €8,056 to €4,723
- Cash +€2,103
up €2,103 (+21.5%), from €9,790 to €11,893
mainly Net result for the year (+€23,094) and Tax, wage and social debts (+€8,050)
- Deferred charges and accrued income -€845
no longer reported in 2025 (was €845)
- Reserves +€23,094
up €23,094 (+114%), from €20,304 to €43,398
- Tax, wage and social debts +€8,050
up €8,050 (+59.1%), from €13,619 to €21,670
- Trade debts -€1,179
down €1,179 (-33.6%), from €3,505 to €2,327
- Gross operating margin +€7,661
up €7,661 (+25.0%), from €30,697 to €38,357
- Taxes +€3,650
up €3,650 (+54.9%), from €6,650 to €10,300
- Depreciation +€1,389
up €1,389 (+71.4%), from €1,944 to €3,333
- Other operating charges -€608
down €608 (-38.4%), from €1,583 to €975
- Financial charges +€441
up €441 (+205%), from €215 to €655
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,929 | €69,895 | +€29,966 | +75.0% |
| Fixed assets | 21/28 | €8,176 | €4,843 | -€3,333 | -40.8% |
| Tangible fixed assets | 22/27 | €8,056 | €4,723 | -€3,333 | -41.4% |
| Furniture and vehicles | 24 | €8,056 | €4,723 | -€3,333 | -41.4% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €31,753 | €65,052 | +€33,299 | +105% |
| Amounts receivable within one year | 40/41 | €21,118 | €53,159 | +€32,041 | +152% |
| Trade receivables | 40 | €7,260 | €18,150 | +€10,890 | +150% |
| Other amounts receivable | 41 | €13,858 | €35,009 | +€21,151 | +153% |
| Cash at bank and in hand | 54/58 | €9,790 | €11,893 | +€2,103 | +21.5% |
| Deferred charges and accrued income | 490/1 | €845 | - | -€845 | |
| Total equity and liabilities | 10/49 | €39,929 | €69,895 | +€29,966 | +75.0% |
| Equity | 10/15 | €22,804 | €45,898 | +€23,094 | +101% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,304 | €43,398 | +€23,094 | +114% |
| Distributable reserves | 133 | €20,304 | €43,398 | +€23,094 | +114% |
| Amounts payable | 17/49 | €17,125 | €23,996 | +€6,872 | +40.1% |
| Amounts payable within one year | 42/48 | €17,125 | €23,996 | +€6,872 | +40.1% |
| Trade debts | 44 | €3,505 | €2,327 | -€1,179 | -33.6% |
| Suppliers | 440/4 | €3,505 | €2,327 | -€1,179 | -33.6% |
| Taxes, remuneration and social security | 45 | €13,619 | €21,670 | +€8,050 | +59.1% |
| Taxes | 450/3 | €13,619 | €21,670 | +€8,050 | +59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,944 | €3,333 | +€1,389 | +71.4% |
| Other operating charges | 640/8 | €1,583 | €975 | -€608 | -38.4% |
| Gross operating margin | 9900 | €30,697 | €38,357 | +€7,661 | +25.0% |
| Operating profit (loss) | 9901 | €27,169 | €34,049 | +€6,880 | +25.3% |
| Financial charges | 65/66B | €215 | €655 | +€441 | +205% |
| Recurring financial charges | 65 | €215 | €655 | +€441 | +205% |
| Profit (loss) for the period before taxes | 9903 | €26,954 | €33,394 | +€6,440 | +23.9% |
| Income taxes | 67/77 | €6,650 | €10,300 | +€3,650 | +54.9% |
| Profit (loss) for the period | 9904 | €20,304 | €23,094 | +€2,790 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,304 | €23,094 | +€2,790 | +13.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.